Northern California's top federal prosecutor Kevin Ryan said Thursday he has formed a task force to investigate whether companies in Silicon Valley have committed fraud by improperly issuing employee stock options. Formation of the task force comes as more than 65 U.S. companies have said in recent days that they are under investigation for retroactively changing the date stock options were granted. About two dozen of those companies are located in Northern California.
July 17, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Northern California’s top federal prosecutor said Thursday he has formed a task force to investigate whether companies in Silicon Valley have committed fraud by improperly issuing employee stock options.
The task force, formed by U.S. Attorney Kevin Ryan in San Francisco, is already investigating “several companies,” Ryan said at a press conference. He declined to say which companies were being probed or give other details about the group’s actions.
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